Toorak 58 Washington St: Mark Wridgway and Michael Ebeling: 2 bidders bought afterwards for $3,350,000.
Highlights:
- Everything sold that we were monitoring – 12 from 12. Hard to argue.
- Two five bidder auctions – both Tom McCarthy and Philip Moore of Biggin and Scott - 14 Green Prahran – $1,653,000 and 13 Hornby Street - $1,476,000.
- Prahran was hot because it also had the second highest sale at 41 Closeburn Prahran with Andrew Macmillan of Benmac – $2,586,000
- The top sale we witnessed this weekend was with Mark Wridgway and Michael Ebeling of RT Edgar at 58 Washington St Toorak. $3,350,000 post auction or for land buyers in the area $3900 per square metre.
Agent Comments - This week we asked if the election was affecting the market.
John Morrisby, Marshall White: “Nobody has really mentioned the election”.
John Manton, Marshall White: “Prices dropped and have now plateaued; Buyers – fewer than May but normal for this time of the year. Still the same number of listings for August 21 as if there was no election.”
Iain Carmichael, Benmac: “Elections used to make a difference to the real estate market but this is no longer the case. I have only been requested to shift one auction from the 21st. For buyers and sellers the election weekend represents a good opportunity to buy/sell as we move into a busier time in spring.”
Hugh Tomlinson, Marshall White: “People just wanted to know when the election was on. Once they knew they acted – In fact one vendor actually booked in on election day.”
Jason Scillio, Kay and Burton: “Major effect on $3m+ market. Sellers have stopped signing on till September. Will be a lot signed up in September for an October/ November campaign so a good buyer advocate should be able to get you through pre release homes in September. Consequently with new stock light on the ground right now I think buyer activity is quite minimal.”
Clearance Rates and Monitor Table
| GLEN IRIS (Stonnington) | 38 Grandview Road | Undisclosed |
| MALVERN | 12 Soudan Street | Before |
| MALVERN EAST | 479 Waverley Road | $1,201,500 |
| MALVERN EAST | 72 Manning Road | $880,000 |
| PRAHRAN | 10 Continental Way | $900,000 |
| PRAHRAN | 41 Closeburn Avenue | $2,586,000 |
| PRAHRAN | 1/29 Lewisham Road | $1,265,000 |
| PRAHRAN | 14 Green Street | $1,653,000 |
| PRAHRAN | 22 Bendigo Street | $980,000 |
| PRAHRAN | 13 Hornby Street | $1,476,000 |
| SOUTH YARRA | 43 Myrtle Street | $982,500 |
| TOORAK | 27 Power Avenue | Undisclosed |
| TOORAK | 58 Washington Street | $3,350,000 |
Buying Activity
We Only Buy Homes
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